Tuukka has started at Relevant as a project manager in July. After getting to know the different parts of the business he has focused especially in our portfolio of data driven marketing products for advertisers and agencies. Another area where specialises is in running online service commercialisation projects for Relevant’s customers. Tuukka strengthens Relevants’ project expertise with his technical and commercial experience gained from his background in software project consulting.
Tuukkas work varies in his field of expertise: One day he might help an agency in the deployment of data driven advertising management. The next day he might be designing data segments to support customers business goals in advertising and on the third day he could be discussing how Relevant could open up new revenue streams or increase existing ones for our current and future customers.
We asked Tuukka a few questions about utilising data and his first thoughts as a member of the team Relevant.
What have been the best aspects of your work in the first weeks at Relevant?
The part that has been especially interesting and fun about working in Relevant, has been that it’s possible to see both sides of the advertising business here. And my colleagues are experts in what they do and they are fun to be around. So while considering an issue from the advertiser’s perspective I can turn to a colleague and he is able to explain to me in detail how the process and thinking goes from the publisher’s point of view. And from time to time I can share and receive exquisite pet videos in our Slack while taking a small break.
Where and how can data be used?
A lot of data is lying in the corners of many companies or it may not even have been collected by now. With a relatively small effort, that data, could be collected, analysed and put in use to improve marketing and the user experience of the services. As an example, a website could be personalised to create better service experience to users by collecting and using the general website visitor data.
When we notice that people are coming to the service through a specific channel and always searching for, let’s say: pancakes. Or when we recognise them from our CRM data we can personalise their experience so that when they come to the website they will immediately see the pancakes on the front page. Depending on the customer this it might be those pancakes, a service or the company’s specific business area.
On the other hand, by analysing the data we can recognise who are the company’s best customers. After that we can use the data to target them specifically with relevant advertising. We can also use the data from websites, newsletters or elsewhere to recognise users who are in a specific point in their customer journey and target them with communications that are relevant for them.
What kind of risks are associated in using data and how can you fail at it?
All data is not equally useful so you should know where to collect it and after that use it appropriately. Seth Stephens-Davidowitz echoes this in his book Everybody Lies, which was published this spring. He writes that even if there’s huge chunks of data, if it’s poor or inaccurate quality, you cannot make accurate predictions from it in research. The same applies to using data to increase sales through marketing or service personalisation.
By starting out with own data it is easier to make sure that right interpretations are made and correct visitors are reached. Afterwards this data can be supplemented with third party data. In this case, however, it is good to be cautious and only use trustworthy service providers who are willing to explain the origins of the data. For instance, we at Relevant are transparent about the data we sell in our marketplace and we only sell data that we are able to ensure is trustworthy.
What are the customer benefits from data marketing as a service?
Data driven marketing is definitely the direction where marketing as a whole is moving towards. The more accurate and better marketing a company is able to execute, the better it is able to serve its current customers, win new customers and gain competitive edge over its rivals.
If a company aims to start data driven marketing the right way, it may have to go through many hurdles before getting adequate results. The costs of acquired technology may be high and require technical knowledge and resources, which even more experienced marketing professionals might not possess. In addition to that, data driven marketing requires analysts to interpret and use the data and all of the aforementioned issues require time to implement.
By buying data services, a company is able to avoid these significant investments in the beginning and gain return on investments faster. Buying data services also brings companies flexibility to increase their marketing resources. Relevant wants to enable the growth of these services and easier deployment to everyone who do, or wants to do, better marketing.
We can help advertisers directly and we enable the growth of data driven marketing services for others as well by providing media and advertising agencies the technology and support services. In addition, we train people to get the most out of these solutions and will be able to help them improve services to their customers.
Relevants data services are here!
Relevant is providing a service, which enables advertisers and agencies to use their own data, as a service. You don’t need to buy all the needed technologies - and using your data will not require extensive technical expertise. We will do it all for you. We offer agencies the technology and its support, as well as trainings for employees if needed. Our data services enables a more advanced and effective way to execute data marketing. We aim to offer technologies and services for the use of data to advertisers easily and cost-effectively.